Citadel Securities, Tower Make Rare Investment in Indian Bourse

Billionaire Ken Griffin’s Citadel Securities LLC and high-frequency trading giant Tower Research are taking minority stakes in India’s National Commodity & Derivatives Exchange Ltd., according to people familiar with the matter, marking the first such investment in the country by global market makers.

NCDEX is raising 7.7 billion rupees ($88 million) by selling shares to a group of investors, the people said, asking not to be named as the information is confidential. Citadel Securities has committed 170 million rupees, the people said. Tower Research will invest 340 million rupees, one of the people said.

Citadel Securities and Tower ...